Establishing Federal Tax plans on the principles of the state for the next 50 years

Maktoum bin Mohammed directs new facilities to simplify tax refund procedures for citizens

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Board of Directors of the Federal Tax Authority, directed new facilities to simplify and speed up tax refund procedures for citizens for building their homes through the Authority's "electronic services" platform.

His Highness said, while presiding over the authority's board of directors meeting, that "the authority's work plans during the next stage will depend on the principles of the state for the next 50 years, and the determinants of the new methodology for government work."

first meeting

In detail, the Board of Directors of the Federal Tax Authority held its first meeting yesterday, headed by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Authority's Board of Directors.

During the meeting, the Minister of State for Financial Affairs, Muhammad bin Hadi Al-Husseini, was elected Vice Chairman of the Board of Directors of the Federal Tax Authority.

The Board approved the Authority's financial statements for the second quarter and for the period ending on June 30, 2021, in accordance with international accounting standards related to the review of quarterly financial statements.

Updates

The Council also reviewed, during its meeting, which was held at the authority's headquarters in Dubai, a comprehensive report on the developments of the ongoing development projects, the achievements made by the authority during the past period, and its future plans.

The report showed that the authority maintained good performance rates in its sectors of work, including the electronic service to refund value-added tax to citizens on the construction of their newly constructed homes, as the number of approved requests for tax refunds to citizens increased significantly, during the past year and the elapsed period of this year.

Development

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that the authority will continue to implement its development plans to upgrade the level of its services in accordance with the best standards, to provide all means of support to support business sectors and encourage them to comply with legislation and tax procedures, through the authority's integrated electronic system.

facilities

His Highness directed that more efforts be made to contribute to the welfare of citizens and residents in the country, especially with regard to refunding the value-added tax to citizens paid for building their new homes, stressing the need to introduce new facilities to simplify and speed up the procedures for tax refunds to citizens through the authority's "electronic services" platform. In implementation of the vision of the wise leadership to develop a modern housing system for citizens, and provide them with the best standards of life and a comfortable life for them, as they are the focus of development plans, and the primary goal of all initiatives and projects implemented by all state institutions.

His Highness Sheikh Maktoum bin Mohammed said: "The work plans of the Federal Tax Authority for the next phase will depend entirely on the principles of the UAE for the next 50 years, which were adopted by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, and on the determinants of the new methodology of government work launched by His Highness. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which constitutes a roadmap for building a more prosperous future to keep pace with the successive changes, and to overcome regional and global challenges with the highest levels of efficiency, to continue the national development process in all fields at rapidly increasing rates of growth.

operational efficiency

The performance indicators report, which was reviewed by the Board of Directors of the Federal Tax Authority, showed an improvement in the operational efficiency of the authority’s systems, as the number of those registered for value added tax increased to about 352,590 registered from businesses, tax groups and their members by the end of the third quarter of this year, compared to 326,820. Recorded at the end of the same period last year, an increase of 7.9%.

Deputy Ruler of Dubai:

• «(Federal Taxes) continues to implement its development plans, to upgrade the level of its services according to the best standards.

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